OpenTable surges on Priceline deal; Intel rallies

SaumyaVaishampayan

SAN FRANCISCO (MarketWatch) — OpenTable Inc. soared Friday on news that it will sell itself to Priceline Group Inc. in a deal worth $2.6 billion while Intel Corp. rallied after raising its revenue guidance.

Gainers

OpenTable
US:OPEN
soared 48%. Online travel company Priceline
PCLN, +1.76%
said Friday it agreed to buy OpenTable for $103 a share in cash, significantly above the stock’s closing price of $70.43 on Thursday. OpenTable allows customers to book tables online in exchange for monthly fees from restaurants. The deal is expected to close in the third quarter. Priceline shares retreated 2.7%.

Intel
INTC, +0.14%
shares rose 6.6%. The company late Thursday boosted its full-year revenue outlook on improved demand for business PCs, saying it now expects second-quarter sales at $13.7 billion, plus or minus $300 million, compared with a previous forecast of $13 billion, plus or minus $500 million.

Express Inc.
EXPR, +0.32%
shares surged 20%. The retailer got a boost late Thursday after the private-equity firm Sycamore Partners expressed an interest in buying Express, saying it would like to perform due diligence that could lead to a fully financed offer, and announced a 9.9% stake in the company.

Shares of International Game Technology
IGT, +1.59%
jumped 9.8%. GTech SpA and Ron Perelman’s MacAndrews & Forbes Holdings are vying to buy the slot machine maker, Reuters reported Friday, citing people familiar with the matter. Private equity firm Apollo Global Management LLC and Carlyle Group LP are also reportedly interested in buying IGT, according to Reuters.

Monster Beverage Corp.
MNST, +0.90%
shares fell 3%. The energy drink company recently lost a copyright lawsuit for using Beastie Boys’ music in one of their promotional videos without the band’s permission, according to media reports.

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